New Income Tax Bill Will Be Introduced Next Week : Finance Minister

The Finance Minister revealed that a new income tax bill will be introduced next week following the Union Budget 2025. This bill is expected to overhaul and simplify the current tax structure, introducing a more transparent and taxpayer-friendly system. With the changes in tax rates, exemptions, and new measures to improve compliance, the government aims to create a more efficient tax framework. The new bill will also seek to address existing gaps in tax law and streamline processes to make the system more predictable and easier for taxpayers to navigate. It is expected to be presented in Parliament shortly after the budget announcement for further deliberation and approval.